Sugar Price Analysis
Expected Scenario
- Sugar price succeeded to achieve our waited target at 19.82$ and settles there, and we suggest the continuation of the bearish bias to surpass this level and achieve additional negative targets that reach 18.50$.
- On the other hand, we should note that the consolidation of 19.82$ level against the current negative pressure and failing to break it will lead the price to start intraday bullish wave and achieve gains that start at 20.50$ and extend to 21.35$.
Expected Outcome
The expected trading range for today is between 19.40$ support and 20.10$ resistance.
Trend Forecast: Bearish